Calpers Postscript

https://www.futureofcapitalism.com/2015/02/calpers-postscript

The Sacramento Bee has a sad postscript to the scandal at the California state pension fund, Calpers — a report of the apparent suicide of a former Calpers board member, Alfred Villalobos, at a Reno, Nevada shooting range. Reports the Bee:

Villalobos amassed great wealth from his dealings with the California Public Employees' Retirement System, earning $50 million in commissions off the pension fund investments he brokered for his big Wall Street clients. But after the state of California named him in a civil suit in 2010, claiming he bribed his way to his millions, he filed for bankruptcy protection and watched as court officials systematically liquidated his treasures to pay his debts.

His Lake Tahoe mansion was sold, along with a vacation home in Hawaii. Out went the fancy wine collection and the multimillion-dollar art collection.

Thanks to reader-participant-community member-watchdog-content co-creator J. for sending the tip.